Home Renovations in the Fall and Return on Investment

Fall is a great time to consider home renovations.  Why? The real estate market tends to slow down as the cooler months come in. And thanks to our amiable fall weather, renovating and making home improvements in the Fall is feasible.

Consider making renovations during the fall, even though there’s a bit of a scramble to get things finished in time for the holidays. But with that being said, if you’re working to get your house spic-and-span to get it on the market for the spring, it isn’t a bad idea to let the builders in during this time. Especially as most projects have a deadline before the holidays, making builders and contractors a little more open for scheduling. If you’re considering new construction, building an addition, or a kitchen renovation project, Fall might be the perfect time.

If you are considering making home improvements, one of the primary considerations will be the potential return on investment.

Let’s Talk Return on Investment

Remodeling and renovation projects are two great ways to improve the living quality in your home. They also help improve price, comfort, and value of your home! Who doesn’t like the sound of that?

Here are some common types of home renovations that will give you an idea of what sorts of updates people might be interested in.

Home Improvements

So, it’s pretty easy to see that painting is the most common renovation project. What’s fortunate about that is painting is relatively easy to do, fairly inexpensive, and it’s something you can do yourself.

In the Southeast, flooring renovations are also very common.  Buyers love hardwood floors or even bamboo.

What Should You Spend?

What you might not like the sound of is the organization or financial burden of actually getting a head start on these projects. It can be disconcerting to think about much much money you’re going to put into a project, for sure. But, where there’s a will there’s a way!

It’s important to recognize why and what you’re spending your money on, too. It makes a little more sense to shell out some money if you’re prepping to sell. The average price of improvements people make on their homes before selling hits almost $6,000.   We have worked with clients that spent a lot more than this.  Planning to prepare your budget around a similar number will save you from overspending on renovations, or not doing enough.  Staying ahead of the curve while you are living in your home and improving it along the way, makes putting your house on the market to sell that much easier.

Average amount of money spent on renovation projects

If your home renovations are planned with the intent to sell at a later date, it’s best to focus on what you can do to simply update the look of your home instead. Aesthetic updates are least likely to thin out your wallet, with the average price lingering just under $3,000. While this is a huge motivator for most people to jump on the update wagon, thinking about what you’re renovating your home for, how much the ROI will be, and what’s in your budget will lead you to more satisfaction.

Not to mention, bang for your buck. By sticking with your budget, you won’t over spend and you’ll see the best results for your renovations.

Real Estate Experts

Real Estate ExpertsA trusted real estate professional will be able to walk through your home, and make suggestions as to what kind of improvements would increase your home’s value. They’ll be able to help you decide which projects are worth your time, budget, and attention. With our expert staging advice, collective real estate knowledge and history in the area, Real Estate Experts can help you discover the best renovations to make on your home.

If you would like more information about major or minor home improvements and their expected ROI, contact us today at 919-928-5131 or send us an email to  info@realestateexperts.net. Visit us online at realestateexperts.net.

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